Seth Newman Purchases Retail Property On Malcolm X Boulevard From Bill Serbin For $2 Million
SOLD
$2,000,000
New York
See Similar DealsRetail1,500 SF
Sold 01/16/2025
SOLD
Seth Newman Purchases Retail Property On Malcolm X Boulevard From Bill Serbin For $2 Million
241 Malcolm X Boulevard
See Similar DealsRetail1,500 SF
Sold 01/16/2025
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,333
Total Square Footage:1,500 SF
Transaction Type:Sale
The asset involved in this transaction is a retail property located at 241 Malcolm X Boulevard in Harlem, Manhattan. It was sold for a transaction amount of $2,000,000, and the total square footage of the property is 1,500, resulting in a price per square foot of $1,333.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,000,000
- Square Footage: 1,500
- Price Per Square Foot: $1,333
- Buyer: Seth Newman
- Seller: Bill Serbin
- Broker: Ariel Ben Ezra - Wingate Advisors
- Date of Transaction: 01/16/2025
The transaction was facilitated by Ariel Ben Ezra from Wingate Advisors, who represented the seller, Bill Serbin, in this sale. The buyer, Seth Newman, acquired the retail property under terms not specified in the available details.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24
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